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The Santa Clara home market sales continues to perform better than last years numbers. So far this year 61 homes have sold versus last year’s 38 during the same time period. Inventory numbers are about the same across the boad, and will start picking up. More likely to see some further price decreases, but not signification price decreases for Santa Clara homes. |
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Sunnyvale numbers are not too far off from last year. Sunnyvale got off to a great start but has slowed down in the last two weeks. Also inventory just a about 10% over last years figures. Again expect some more price drops as inventory climbs and days on market increases. |
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Mountain View we see quite a large increase in inventory. Comparatively speaking Mountain View has low inventory numbers but they are about 40% up from last year. Sales are down as well. Indication that Mountain View prices have not dropped significantly. |
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Moving on to the higher end we see double the inventory in Los Altos and roughly half the sales. Los Altos will need a likely drop in prices to move inventory. |
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Much like Los Altos, Saratoga is experiencing the same phenomenon. Double the inventory half the sales. Certainly not a good start for Saratoga and will likely see some significant price drops this year. |
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Cupertino has also experienced a slow down. Inventory has doubled and sales are half of what last years numbers were. Although inventory is much higher sales are about steady. Expect prices to drop further in Cupertino. |
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Los Gatos inventory is over 50% higher than last year’s numbers. Sales however have been very consistent with last year’s sales. As inventory increases expect the prices to come down. Continue to monitor these numbers for price performance in Santa Clara County |
